Company aims to identify extent of subsurface lithium brine asset
VANCOUVER, BC–(Jul 13, 2017) – Liberty One Lithium Corp. (“Liberty One,” “Liberty One Lithium,” or the “Company”) (TSX VENTURE: LBY) (OTCQB: LRTTF) (FRANKFURT: L1T), an emerging exploration company focused on the acquisition and development of high grade lithium brine deposits, is pleased to announce plans for a geophysical survey at its 15,857 hectare (39,183 acre) joint venture interest in the Pocitos West Project located on the Pocitos Salar in Salta Province, Argentina.
Liberty One Lithium, through its operating partner Millennial Lithium Corp. (“Millennial”) (TSX VENTURE: ML) (FRANKFURT: A3N2) (OTCQB: MLNLF), has contracted Salta based Tecnología y Recursos (“TyR”) to conduct a geophysical survey at Pocitos West. TyR will conduct a Vertical Electrical Soundings (“VES”) survey which detects variations in subsurface conductivity. The VES survey can identify differences between dry sediments, sediments with fresh or low-salinity water, massive halite (rock salt), and basement rocks. TyR will take measurements at 11 stations along the 29 kilometer north-south extent of the tenements, reporting results based on modeling the on-the-ground results with the conductivity parameters of the local rock types and similar rock types bearing fresh water and brines.
The 60-kilometre-long Pocitos salar basin was previously drill tested with 12 shallow holes in 1979 by an Argentine government agency, the Direccion General de Fabricaciones Militares. The most significant result from the historical work program includes a shallow drill hole, which averaged 417 parts per million lithium and 15,300 parts per million potassium. The results of these holes and the sampling conducted are historical in nature and cannot be confirmed by the company under National Instrument 43-101 standards of exploration applicable today.
Geologically, salars are topographically depressed and surrounded by hills and mountains. The salar basins are filled with surface runoff and subsurface flow from the surrounding high terrain. The sediments are the product of erosion of the mountain around the salars, which tend to mask the actual size of the salt flats as shown at surface. Most of the advanced-stage projects in Argentina are extending their resource below the alluvial fans. At the Pocitos West Project area, previous geophysics profiles indicate that the body of brine extends toward the west beneath the alluvial fans on trend with the Liberty One property at depths of up 500 feet or more.
Morgan Tincher, Liberty One Lithium’s CFO notes, “We are pleased to have the ability to quickly move forward in determining the extent of the mineral assets at Pocitos West. Our JV partners at Millennial have extensive exploration experience in the area and we are very much on the same page with their proposed workplan and executable timeline. We enjoy the same enthusiastic outlook for the opportunities this region represents, as Lithium continues to show great promise for the foreseeable future. As mentioned previously, our intent is to move ahead with our initial NI 43-101 report and to continue to focus our efforts on building shareholder value.
Iain Scarr, AIPG, CPG, an arm’s length party to the Company, is the Qualified Person responsible for the technical disclosure in this news release, in accordance with National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
“/s/ Morgan Tincher”
CFO and Director
About Liberty One Lithium (TSX VENTURE: LBY) (OTCQB: LRTTF) (FRANKFURT: L1T)
Liberty One Lithium Corp. is an emerging exploration company focused on the acquisition and development of high grade lithium brine deposits. The Company believes that strategic global resources are the key to a robust energy strategy to protect economic stability worldwide. Find out more at: www.libertyonelithium.com.
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